Ireland’s Thirst for Libyan Oil

By

Andrea Hotter

Feb 23, 2011 1:52 pm GMT

If you thought Ireland’s troubles couldn’t get any worse, think again.

Unemployment of over 13%, a wave of emigration as workers desert the country in droves, an economy in crisis and a political elite in tatters. But now the country can add exposure to Libyan oil imports to its list of woes.

According to data by the International Energy Agency, Ireland last year imported 14,000 barrels a day of crude oil from Libya. While relatively small in the grand scheme of Libya’s 1.2 million barrels a day of exports, of which most go to Italy, the figure represents a whopping 23.3% of Ireland’s total crude imports last year, the data shows.

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